EURUSD Daily Forecast: January 17

By @ibtimes on

EURUSD Forecast

The EURUSD was volatile but indecisive on Friday. Overall we are still in short term bullish phase since the rejection to consistently move below the trend line support/neck line (white) last week but note that actually price still trapped in range area of 1.3500 – 1.2950/00 in medium term outlook as you can see on h4 chart below and some people could be interested in selling the Euro around 1.3450 – 1.3500 resistance area at this phase due to a good risk-reward ratio there. Immediate support at 1.3300. Break below that area could lead us to neutral zone in nearest term testing 1.3200 – 1.3170 support area. On the upside, a clear break above 1.3500 could lead us to a new bullish reversal phase.

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